The domestic trade, co-operatives and consumerism ministry (KPDNKK) is still in discussions with the ministry of finance (MoF) on how to improve the current method of setting weekly petrol and diesel retail prices, Bernama reports.
Speaking at the Dewan Rakyat earlier today, its minister Datuk Seri Hamzah Zainuddin said the ministries were discussing the issue following feedback gained from meetings with various stakeholders such as oil companies and petrol station operators.
“The ministry and the MoF are still considering all factors before implementing a new strategy,” he said in response to a question from the floor. He said that the implementation of the new pricing strategy will need to take into account the interests of all parties, including consumers’ ability to pay.
On the subject of petrol station operators lamenting that they had suffered losses following the introduction of a weekly pricing schedule, Hamzah said the government had taken initiatives to ensure acceptable losses. Among them were encouraging operators to provide convenience stores at the stations to help generate additional income as well as running promotional programmes to attract customers.
He added that with the rise in global oil prices over the past few weeks, it is hoped that petrol station operators will not incur further losses until the new strategy comes into effect.
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I hope everyone switch to electric cars.
Then TNB will sweep all the money to their pocket
I hope TNB expand their renewable portfolio in response to everyone switching to electric
Jz make it RM5/liter. Pipu prefer to ride MRT anyway
First of all, be transparent and show us the REAL way government calculate fuel prices. This is because we rarely arrive at the same prices despite following the calculation method provided by KPDNKK.
All over the world, all governments have done their fuel mechanism over 10 yrs ago. We in Malaysia, still struggling how to do this. And yet, gomen says, in 3 years time, we become FIRST World and everybody’s gaji is USD$4000 (RM18,000) every month.
So malu. Until so long, still don’t know how to do fuel pricing mechanism because all of them are thinking about PDAM members.
And why are the PDAM members so powerful and great? Cause all of them are some kakak ipar, kakak mertua, abang mertua, abang saudara, adik angkat, adik mertua, atuk, nenek of some existing Minister.
Sad that we have to kowtow to PDAM
Government should just peg it at a ceiling price of RM1.80 per litre. if price go lower, government pocket the profit. if price go higher, government subsidise.
isn’t this what we used to practice?
This really hint that the (bloated) Govt is makan gaji buta……still study, study, study, study……The experts surely eaten lots of karipap and drank teh tarik during meeting here and there…
eventually nothing gets done.
Rakyat suffers and pays through the nose.
Whatever la KPDNKK…haih…penat dah aku.
“He added that with the rise in global oil prices over the past few weeks, it is hoped that petrol station operators will not incur further losses until the new strategy comes into effect.”
Nobody cares about us right… the wage earners
Just use market pricing. Our economy is always imbalance because we try to tamper with the market rates too much. Sometimes ada subsidy sometimes takde. When they subsidize the traders never lower their prices, when they cut subsidy price increase immediately. Consumers suffer this only upward swing yoyo effect.
Instead cut other things like excise duty and ministers allowances so that the rakyat can enjoy permanent benefits rather than seasonal ones.
What’s wrong with the present weekly mechanism adopted from Australia?
Price = [(Avg Mogas x Avg USD/MYR) / 159 ] + 0.32
However, last week the 0.32 (profit and overheads) seemed to be increased to 0.37. At this rate, tomorrow might see RM2.11/litre RON95. Why was the constant 0.32 increased without reason?
The govt seem to be using a calculation, based on new formula “SS” + “GUB”
SS= syiok sendiri
GU=Guarantee Untung business